WTI crude oil surges as US labor market data fuels demand optimism. Nonfarm Payrolls miss expectations, but wage growth remains strong. The labor force participation rate edges higher, supporting the energy demand outlook. The West Texas Intermediate (WTI) crude oil prices climbed on Friday to around $70.80, buoyed by renewed optimism over energy demand following […]
WTI Price Analysis: Oil prices rise after NFP data Read More »
Oil drilling rigs Oil prices rose on Friday after the US slapped sanctions on individuals and tankers shipping Iranian oil to China. However, oil prices are heading for their third straight weekly loss on the repercussions of the US trade war. Brent crude futures for April delivery rose 0.57%, or $0.42, to $74.71 a barrel
Oil prices rise, poised for third straight weekly loss Read More »
WTI moves little as the market shrugs off concerns over US-China trade war while support from Iran-related supply concerns remains. Trump reinstated his “maximum pressure” campaign, aiming to cut Iran’s Oil exports to zero. US API Weekly Crude Oil Stock rose by 5.025 million barrels in the previous week, against a previous 2.86-million-barrel build. West
WTI trades near $72.00, moves little as market downplays US-China trade tensions Read More »
Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info Premium Content By Julianne Geiger – Feb 04, 2025, 5:00 PM CST According to a Wall Street Journal survey—which includes projections from Goldman Sachs, JPMorgan, and Morgan Stanley—Brent is now expected
Here’s Why Oil Prices Could Go Higher in the Short Term Read More »
Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info By Julianne Geiger – Feb 04, 2025, 3:51 PM CST The American Petroleum Institute (API) estimated that crude oil inventories in the United rose by 5.025 million barrels for the week
Crude and Gasoline Inventories Soar Amid Large Draw in Distillate Stocks Read More »
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday. In a statement, the company said the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. “Dangote Refinery’s
Dangote Refinery crashes petrol price from N950 to N890 per litre Read More »
The Petroleum Products Retail Outlet Owners Association says its members have started loading dual-purpose kerosene, automotive gas oil, and premium motor spirits at the Port Harcourt and Warri refineries. The spokesperson of PETROAN, Joseph Obele, disclosed this in a statement on Saturday. This follows a reported shutdown of the Port Harcourt refinery in December 2024
We’ve commenced fuel lifting from Port Harcourt, Warri refineries – PETROAN Read More »
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday. In a statement, the company said the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. “Dangote Refinery’s
Dangote Refinery crashes petrol price to N890 per litre Read More »
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Oil prices on track for weekly declines as traders await Trump tariff decision Read More »
Shell’s net profit reached $16.1 billion last year – Copyright AFP Kirill KUDRYAVTSEV Ben PERRY British energy giant Shell on Thursday announced a 17-percent drop in annual net profit owing to weaker oil and gas prices as well as asset write-offs. Profit after tax fell to $16.1 billion in 2024, the company said in an
Shell annual profit drops to $16 bn as oil prices fall Read More »
